H
udson Valley Property Group (HVPG) and Wheelock Street Capital have acquired 13 affordable apartment buildings in Washington State, including five coastal complexes. The joint venture between HVPG, a New York-based firm, and Connecticut-based Wheelock purchased the properties as part of a 22-property portfolio spanning Washington, Colorado, California, and Idaho. The seller was Spokane-based Inland Group.

    The Washington properties include Blakely at Echo Lake in Shoreline (200 units), Traditions at Federal Way near Tacoma (200 units), Copper Valley in Puyallup (200 units), Copper Wood in Lacey (228 units), and Copper Trail in Olympia (260 units). All the properties are subject to low-income housing tax credit rent restrictions, with apartments reserved for tenants earning no more than 60% of area median income.

    HVPG plans to upgrade all 22 properties, enhancing safety, programming, and amenities while preserving their affordability through partnerships with local housing authorities. This acquisition marks a significant milestone for HVPG, expanding its portfolio to 87 communities with 15,414 units across the US.